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ABB Must Pay $11.6M in Attorneys’ Fees in 401(k) Case

Dec. 11, 2015, 5:00 AM

ABB Inc. must pay more than $11.6 million in attorneys’ fees and expenses to participants of its 401(k) plan as a result of the company’s fiduciary breach for failing to monitor pension plan record-keeping fees, the U.S. District Court for the Western District of Missouri ruled (Tussey v. ABB Inc., 2015 BL 404079, W.D. Mo., 2:06-cv-04305-NKL, 12/9/15).

In granting the participants’ motion for attorneys’ fees, Judge Nanette K. Laughrey ruled Dec. 9 that ABB must pay $10.7 million in attorneys’ fees for time spent litigating the case before the district court and $900,000 for the time spent...

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